Make Money On Ebay

IT'S the place to make quick money - if you know your way around it. Now some of the tricks of trading on eBay - the internet's massive auction site - have been revealed for the first time by an insider.
Dan Wilson, one of e-Bay's senior managers, has written a beginner's guide for sellers keen to grab some of the pounds 20billion-a-year business, which has seen David Beckham's ex-BMW offered for pounds 73,000 and even Britney Spears's bra go up for sale.
His advice is timely - the seven days since Christmas have brought a surge of sellers listing unwanted presents on the site. People have been selling everything from gold watches and cameras (up to pounds 500) to plastic trinkets that fell out of their crackers (15p).
While some 3.5 million new items come up for sale worldwide every day analysts believe the total hit FOUR MILLION on Boxing Day, boosted by unwanted Xmas gifts.
"It's the world's biggest marketplace, which can be a bit daunting if you've never been there before," said Dan, 27, of Battersea, South London. "People need to be confident that they won't be ripped off. They need to learn how eBay works.
"Selling on eBay is a second career now for thousands of people. You can easily make pounds 100 a month in extra income just for seven or eight hours work. Those people selling Xmas gifts they didn't want might be at the start of finding a new career for themselves."

But newcomers should follow 10 basic tips, according to Dan's book, and here they are...
1
Register with ebay as a buyer first
HAVE a good shop around. Then note what attracts you to other people's items - is it the photograph, the way they're described, the low postage costs?
Think like a buyer before you begin selling.
2
Start by selling simple stuff
TRY your hand selling CDs or DVDs, for instance, before you plunge into the global market with something valuable like the family's Ming china collection.
Dan's first sale was a Dr Who money box worth around pounds 4 - it sold for pounds 30 to a US collector. Since then he has clinched 300 sales worth more than pounds 2,000.
3
Always set a price that is realistic
CHECK what other sellers are asking for similar items, then price yours a bit lower. That way you'll attract more attention. There's a gamble though in setting a rock-bottom starting price - say 99p. If you only get one bid, then 99p is what you have to accept. One of the rules of eBay is you are bound to sell your item, even if someone only bids your lowest asking price.
4
Someone's junk is
someone's treasure
REMEMBER what you think is junk might be just what someone is looking for. Anything sells - that's the eBay rule. An empty old beer bottle found in an attic turned out to be a rarity and was finally sold for a mind-boggling pounds 9,000.
If it's junk with celebrity connections, even better. A phial of water from a paper cup which Elvis Presley drank from during a show sold recently for pounds 300. And one of Maggie Thatcher's old handbags fetched nearly pounds 100,000.
5
Hunt out bargains that you can sell on
ONCE you have sold your own surplus things - the average house contains pounds 100 of clutter, according to Dan - start looking out for saleable items elsewhere.
A Sheffield housewife bought 10 Harry Potter lunchboxes for pounds 1 each at her local Poundland - and sold them all on eBay for more than pounds 300.
6
Make sure you get your timing right
WHEN you place your item for sale you must decide how long you are going to accept bids for - the maximum time is 10 days.
Usually most bidding on an item takes place in its last hour on sale. So it wouldn't be smart to end a listing for an England soccer shirt while a big game was on TV.
Dan recommends Monday lunch as a good ending time - office workers are taking their break, surfing on their screens and looking for a bargain to relieve the post-weekend blues.
Avoid Friday morning between 10 and 11, as that's when the site is partly closed for maintenance.
7
Try to illustrate your listing with a photo
PHOTOS don't have to be arty - just a clear picture of what you're selling. Remember, buyers can't handle the goods like they would in a shop so they rely on a photo.
And be careful how you take it. One seller was in the nude when he pictured his polished copper kettle - 150 million eBayers could clearly see his reflection.
8
Don't be in too much of a rush
TAKE time to word your item's description - talk it up, but don't be dishonest or too flowery.
And don't worry if it doesn't sell because eBay will give you one more chance free.
Even then, if it still doesn't go, you only need to pay the listing charge - ranging from 15p to a maximum pounds 2. If it sells, then you're charged commission of between 1.75 per cent and 5.25 per cent, depending on the final price.
9
Make sure you get your money
DAN urges sellers to open an account with PayPal, the internet money-collecting service. That way you can see the payment is there before you send off the goods.
The seller's nightmare is a buyer who doesn't pay up but, Dan insists, only a tiny fraction of deals go wrong.
10
Check out the
people buying
YOU wouldn't buy a car from a man in the pub, and likewise you wouldn't just take his cheque and let him drive it off. You can see if an eBay customer is reliable.
Buyers and sellers collect feedback after every deal - the more positives they have, the better their reputation.
MAKE Money On eBay UK, by Dan Wilson, is published on January 2 by Nicholas Brealey, price pounds 9.99
MILLIONS JOIN SELLING SPREE
eBAY, started in 1995, has 125 million members in 150 countries. At any time, there are 34 million items listed for sale, in 50,000 categories.
ON the UK site, people buy a mobile phone every minutes, a laptop every two minutes, model train every three minutes, car every four minutes and soccer shirt every five minutes. The most expensive sale was a Gulfstream jet, for pounds 2.5m.
BUYERS have to register their email address, personal details and passwords. Sellers open an account with a credit card and their bank details.